BNP Paribas Arbitrage SA Increases Holdings in E. W. Scripps Co (SSP)
BNP Paribas Arbitrage SA lifted its stake in shares of E. W. Scripps Co (NYSE:SSP) by 60.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,608 shares of the company’s stock after buying an additional 11,184 shares during the period. BNP Paribas Arbitrage SA’s holdings in E. W. Scripps were worth $566,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SSP. PNC Financial Services Group Inc. boosted its position in shares of E. W. Scripps by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after buying an additional 26 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of E. W. Scripps during the third quarter valued at approximately $203,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of E. W. Scripps during the second quarter valued at approximately $214,000. Piedmont Investment Advisors LLC purchased a new position in shares of E. W. Scripps during the second quarter valued at approximately $217,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of E. W. Scripps during the third quarter valued at approximately $264,000. 77.82% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on SSP shares. ValuEngine cut E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, October 4th. Benchmark cut their target price on E. W. Scripps from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Zacks Investment Research cut E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Finally, Guggenheim started coverage on E. W. Scripps in a research report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.75.
Shares of E. W. Scripps Co (NYSE:SSP) traded up $0.23 during trading on Friday, reaching $15.50. The company had a trading volume of 368,400 shares, compared to its average volume of 501,806. The company has a market capitalization of $1,250.60, a price-to-earnings ratio of 31.16 and a beta of 1.93. E. W. Scripps Co has a 1-year low of $13.88 and a 1-year high of $24.15. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.42.
E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $216.45 million for the quarter, compared to analyst estimates of $219.04 million. E. W. Scripps had a return on equity of 4.37% and a net margin of 1.95%. E. W. Scripps’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. research analysts anticipate that E. W. Scripps Co will post -0.1 EPS for the current fiscal year.
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About E. W. Scripps
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.
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